What a great question. It really depends on your situation. Do you need to sell in order to purchase something else? Will the rent cover your holding cost? Are you prepared to managed the property yourself or pay a property management fee. Also consider the cost to prepare the house for sale once the lease is up. You may also want to consult with a tax professional.
The question about the market is a tougher question. We are seeing some signs of stability but would not expect HUGE market improvements anytime soon. That said, it will certainly depend on your particular home, location, competition, etc.
Once your listing expires, consider obtaining a 2nd opinion of value from another licensed Realtor/Broker or appraiser to re-assess market value along with interviewing another Realtor on marketing your property. The spring market is coming. It is a great time to re-evaluate and leverage the market condition.... more